Pundi X Helps Qtum to Expand Its Presence in Southeast Asia

SINGAPORE, Nov. 28, 2017 /PRNewswire/ — Pundi X, a cryptocurrency point-of-sale (“POS”) solutions provider for retail stores seeking to accept digital currencies in South East Asia, today announced it is helping Qtum, the world’s first blockchain platform with proof-of-stake consensus smart contract mechanism, to expand its reach in the South East Asian region. The collaboration includes Pundi X integrating Qtum blockchain. In addition, Pundi X users will be able to buy and sell QTUM tokens via Pundi X POS point-of-sale terminals. Pundi X will build and deploy applications and services based on the Qtum platform. The move helps Qtum to expand and deepen its penetration in Southeast Asia, especially in the Indonesian market.

Pundi X aims to solve the last-mile challenge for cryptocurrency purchases with its point-of-sale (“POS”) solutions. The company’s business is built on the existing Pundi-Pundi model of cashless payment systems, which enables smartphone users to scan QR codes and makes instant payments in retail and restaurant outlets. Pundi-Pundi has already signed up more than 100,000 registered users and over 500 merchant partners in Jakarta in less than a year of operation.

QTUM is now the world’s 12th-largest blockchain platform by market capitalization, according to coinmarketcap.com, with a market capitalization of US $1 billion. Recently, Qtum announced Ignition, providing the first public network debut with a decentralized governance protocol and proof-of-stake consensus mechanism.

“By using Qtum‘s blockchain platform, we can fully take advantage of its proof-of-stake consensus smart contract mechanism, lowering the risk of transactions and providing a better user experience,” said Zac Cheah, CEO of Pundi X. “Moreover, Pundi X can speed up its market expansion through the Qtum network.”

“Our collaboration will speed up the deployment of Qtum blockchain technology,” said Patrick Dai, co-founder and CEO of Qtum. “I see that the Pundi X solution will make cryptocurrency transactions much easier, allowing everyone to buy and sell cryptocurrency without the technical barriers we have today.”

About Pundi X

Pundi X is a cryptocurrency point-of-sale (“POS”) solutions provider for retail stores seeking to accept digital currencies in South East Asia. Pundi X POS enables shops, cafes and convenience stores to sell cryptocurrency to general consumers and builds on the success of Pundi-Pundi, which is one of Indonesia’s most popular QR code cashless payment apps. Pundi X public token sale will be Jan. 21, 2018, with the aim of financing over 700,000 Pundi X POS devices to be installed over the next three years across all target markets.